Brookfield Asset Management Ltd. (NYSE:BAM) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $59.08.

BAM has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. Wells Fargo & Company boosted their price target on shares of Brookfield Asset Management from $48.00 to $54.00 and gave the company an “underweight” rating in a report on Wednesday, May 7th. Bank of America raised shares of Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Thursday, April 10th. Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Finally, Scotiabank boosted their price target on shares of Brookfield Asset Management from $58.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th.

Brookfield Asset Management Stock Up 0.3%

NYSE:BAM opened at $59.72 on Friday. Brookfield Asset Management has a 12 month low of $37.29 and a 12 month high of $62.61. The firm has a market cap of $96.29 billion, a price-to-earnings ratio of 45.24, a P/E/G ratio of 1.92 and a beta of 1.56. The company’s 50 day moving average is $50.62 and its 200-day moving average is $54.25.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Research analysts predict that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be given a $0.4375 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.93%. Brookfield Asset Management’s dividend payout ratio is 124.11%.

Institutional Trading of Brookfield Asset Management

Hedge funds have recently modified their holdings of the company. Truvestments Capital LLC increased its stake in Brookfield Asset Management by 487.2% during the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 419 shares in the last quarter. Rossby Financial LCC bought a new position in shares of Brookfield Asset Management during the 1st quarter worth approximately $28,000. ST Germain D J Co. Inc. bought a new position in shares of Brookfield Asset Management during the 1st quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Brookfield Asset Management during the 4th quarter worth approximately $32,000. Finally, NewEdge Advisors LLC grew its stake in shares of Brookfield Asset Management by 61.0% during the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 325 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield Asset Management

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.